Friday, August 12, 2011

Shedding New Light On The Cash For Clunkers Fiasco

The following cross-posted from SGP  H-T to Catherine

The person who calculated this bit of information is now and has been
a professor at The University of West Virginia in Morgantown for the last forty some years.

A clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year.
A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons of gas a year.

So, the average Cash for Clunkers transaction will reduce gasoline consumption by 320 gallons per year.  The government claims 700,000 clunkers have been replaced so that's 224 million gallons saved per year. That equates to a bit over 5 million barrels of oil.
5 million barrels is about 5 hours worth of US consumption.  More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars. So, the government paid $3 billion of our tax dollars to save $350 million.

We spent $8.57 for every $1.00 we saved.

Note from Storm'n Norm'n
The sad part of this fiasco is anybody that ever voted for Obama does not know what the hell we're talking about.
Even a dog knows more about Obama than the people who voted for's the proof !!!

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